E1 TC = 8Q² + 9Q + 16MC16 Q +9MR== 329a) Profit maximizing quantityb) Total cost at profit maximizing quantity?c) Calculate marginal cast at profit.maximizing quantity?total cost at profitaveraged) Calculatequantity.maximizinCe) Calculate Variable Cost at profit maximizing"quantity.F) Calculate fixed cost at profit muximizingmaximizing quartG) Given the falowing production function:F(KL) = 2K**→ Increasing, Decreasing, or Constant returns to scale

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D) TC = 8Q² + 9Q + 16 MC = 16Q + 9 MR 329 a) Profit maximizing quantity ? b) Total cost at profit maximizing quantity? c) Calculate marginal cost at profit. maximizing quantity! d) Cakulate average total cost at profit. quantity. maximizin C e) Calculate Variable Cost at profit maximiz quantity. kizing F) Calculate fixed cost at profit maximizing quan

D) TC = 8Q² + 9Q + 16 MC = 16Q + 9 MR 329 a) Profit maximizing quantity ? b) Total cost at profit maximizing quantity? c) Calculate marginal cost at profit. maximizing quantity! d) Cakulate average total cost at profit. quantity. maximizin C e) Calculate Variable Cost at profit maximiz quantity. kizing F) Calculate fixed cost at profit maximizing quan

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter3: Demand Analysis

Section: Chapter Questions

Problem 1.4CE

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(Please attempt thus question if you will provide Solution for both questions below...thanks) 1) If a firm wanted to reduce the annual EOQ cost as a percentage of the annual purchase cost by 50 percent, how would the demand rate have to change? A) Decrease by 50 percent. B) Remain unchanged. C) Increase by 50 percent. D) Double. E) Quadruple. Select correct option and explain answer with Calculation. 2) A firm evaluates its EOQ quantity to equal 180 cases, but it chooses an order quantity of 200 cases. Relative to the order quantity of 180 cases, the order quantity of 200 cases has A) higher ordering cost and higher holding cost. B) higher ordering cost and lower holding cost. C) lower ordering cost and higher holding cost D) lower ordering cost and lower holding cost.
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Assume that you are an economic consultant. The firm that hired you has provided the information below. The firm is a price searcher and wants to maximize its profit (or minimize its loss). InformationPrice: $4Elasticity of demand at price of $4 is Ed=-1Quantity of output: 2000Total variable cost: 4000Average fixed cost: 1Marginal cost is constant and equal to the average variable cost: MC=ACV=2. Which of the following answers correctly describes this case? a) The firm is maximizing profits at the current price of $4.b) The firm should increase price and reduce quantity produced.c) None of the other answersd) Firm should reduce price and increase quantity produced.
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Ariana Grande has just finished recording her latestCD. Her record company’s marketing departmentdetermines that the demand for the CD is asfollows:Price Number of CDs$24 10,00022 20,00020 30,00018 40,00016 50,00014 60,000The company can produce the CD with no fixed costand a variable cost of $5 per CD.a. Find total revenue for quantity equal to 10,000,20,000, and so on. What is the marginal revenuefor each 10,000 increase in the quantity sold?
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